Ignite Planners LLC Sells 64 Shares of General Dynamics Co. (NYSE:GD)

Ignite Planners LLC reduced its holdings in General Dynamics Co. (NYSE:GD) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,359 shares of the aerospace company’s stock after selling 64 shares during the quarter. Ignite Planners LLC’s holdings in General Dynamics were worth $291,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GD. WJ Wealth Management LLC lifted its position in shares of General Dynamics by 101.1% in the 2nd quarter. WJ Wealth Management LLC now owns 2,150 shares of the aerospace company’s stock worth $463,000 after purchasing an additional 1,081 shares during the period. 180 Wealth Advisors LLC raised its stake in General Dynamics by 10.2% during the second quarter. 180 Wealth Advisors LLC now owns 5,509 shares of the aerospace company’s stock worth $1,189,000 after buying an additional 510 shares during the last quarter. Worth Asset Management LLC lifted its holdings in General Dynamics by 17.2% in the second quarter. Worth Asset Management LLC now owns 1,113 shares of the aerospace company’s stock valued at $239,000 after buying an additional 163 shares during the period. Brookstone Capital Management grew its holdings in General Dynamics by 16.9% during the 2nd quarter. Brookstone Capital Management now owns 8,270 shares of the aerospace company’s stock worth $1,771,000 after acquiring an additional 1,197 shares during the period. Finally, Good Life Advisors LLC raised its position in shares of General Dynamics by 1.6% in the 2nd quarter. Good Life Advisors LLC now owns 4,344 shares of the aerospace company’s stock worth $935,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 86.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GD. Morgan Stanley upped their target price on General Dynamics from $248.00 to $250.00 in a research report on Thursday, July 27th. StockNews.com started coverage on shares of General Dynamics in a research report on Thursday, August 17th. They set a “buy” rating for the company. Finally, Wells Fargo & Company dropped their target price on shares of General Dynamics from $258.00 to $243.00 and set an “overweight” rating on the stock in a research report on Monday. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $261.23.

Insider Buying and Selling

In other news, VP Gregory S. Gallopoulos sold 6,500 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $225.83, for a total transaction of $1,467,895.00. Following the completion of the sale, the vice president now directly owns 113,319 shares of the company’s stock, valued at approximately $25,590,829.77. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Gregory S. Gallopoulos sold 6,500 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $225.83, for a total transaction of $1,467,895.00. Following the completion of the transaction, the vice president now owns 113,319 shares in the company, valued at $25,590,829.77. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Phebe N. Novakovic sold 33,230 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $227.96, for a total transaction of $7,575,110.80. Following the transaction, the chief executive officer now directly owns 778,092 shares of the company’s stock, valued at $177,373,852.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,230 shares of company stock worth $12,086,716. 1.50% of the stock is owned by company insiders.

General Dynamics Price Performance

GD opened at $224.33 on Tuesday. The firm’s fifty day moving average price is $221.77 and its two-hundred day moving average price is $219.13. The company has a market capitalization of $61.25 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 0.90. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $256.86.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.11. The business had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.45 billion. General Dynamics had a net margin of 8.24% and a return on equity of 18.01%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.75 earnings per share. As a group, analysts anticipate that General Dynamics Co. will post 12.64 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, October 5th. General Dynamics’s payout ratio is 43.35%.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.